TriplePoint Venture Growth BDC Corp. $TPVG Shares Purchased by Ethos Financial Group LLC

Ethos Financial Group LLC boosted its holdings in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 84.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,627 shares of the investment management company’s stock after acquiring an additional 21,411 shares during the period. Ethos Financial Group LLC’s holdings in TriplePoint Venture Growth BDC were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Townsquare Capital LLC grew its position in shares of TriplePoint Venture Growth BDC by 20.6% in the first quarter. Townsquare Capital LLC now owns 102,318 shares of the investment management company’s stock valued at $714,000 after purchasing an additional 17,445 shares in the last quarter. Samalin Investment Counsel LLC boosted its stake in TriplePoint Venture Growth BDC by 16.1% during the first quarter. Samalin Investment Counsel LLC now owns 81,906 shares of the investment management company’s stock worth $572,000 after buying an additional 11,364 shares during the last quarter. Jane Street Group LLC grew its holdings in TriplePoint Venture Growth BDC by 28.1% in the 1st quarter. Jane Street Group LLC now owns 67,693 shares of the investment management company’s stock valued at $472,000 after buying an additional 14,865 shares in the last quarter. Norden Group LLC increased its stake in shares of TriplePoint Venture Growth BDC by 36.4% in the 2nd quarter. Norden Group LLC now owns 56,848 shares of the investment management company’s stock worth $399,000 after acquiring an additional 15,160 shares during the last quarter. Finally, Kovack Advisors Inc. raised its holdings in shares of TriplePoint Venture Growth BDC by 10.5% during the 2nd quarter. Kovack Advisors Inc. now owns 50,319 shares of the investment management company’s stock worth $353,000 after acquiring an additional 4,800 shares during the period. 12.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TPVG. Piper Sandler dropped their price objective on shares of TriplePoint Venture Growth BDC from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of TriplePoint Venture Growth BDC in a report on Wednesday, October 8th. UBS Group dropped their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, TriplePoint Venture Growth BDC currently has a consensus rating of “Reduce” and an average price target of $6.25.

TriplePoint Venture Growth BDC Price Performance

NYSE TPVG opened at $5.67 on Friday. The stock has a market capitalization of $229.03 million, a P/E ratio of 6.67 and a beta of 1.47. The firm’s 50-day moving average is $5.92 and its two-hundred day moving average is $6.45. TriplePoint Venture Growth BDC Corp. has a 12 month low of $5.24 and a 12 month high of $8.50.

TriplePoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings results on Wednesday, November 5th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 36.02% and a return on equity of 12.88%. The company had revenue of $22.66 million for the quarter, compared to analyst estimates of $24.22 million. As a group, analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.92 dividend on an annualized basis and a yield of 16.2%. TriplePoint Venture Growth BDC’s payout ratio is presently 88.46%.

Insiders Place Their Bets

In other news, insider Sajal Srivastava acquired 80,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average price of $6.48 per share, for a total transaction of $518,400.00. Following the acquisition, the insider owned 297,657 shares of the company’s stock, valued at $1,928,817.36. This represents a 36.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Labe bought 80,000 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $6.48 per share, for a total transaction of $518,400.00. Following the purchase, the chief executive officer owned 297,657 shares in the company, valued at $1,928,817.36. This represents a 36.76% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 1,292,100 shares of company stock worth $8,437,508 over the last 90 days. 1.46% of the stock is owned by insiders.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.